UAE Ministry of Finance announced the issuance of Federal Decree-Law No. 35 concerning federal properties for 2023

Federal Decree-Law No. 35 addressing federal properties for 2023 was released by the UAE Ministry of Finance to advance the legal framework for the inventory and management of government properties. All federal properties, whether they are real estate or not, are organised under the legislation.

The purpose of the Decree-law is to enhance the management and growth of the federal government's financial resources both domestically and abroad. By using best practices from throughout the world, it seeks to effectively manage government assets, enhance their utilisation, and guarantee sustainable growth. It also aims to improve the nation's credit rating and place it higher in rankings of global competitiveness.

In order to ensure the protection, management, and upkeep of federal real estate facilities, the new law requires the development of a cutting-edge computer platform. This programme supports transparency and asset protection, which is in line with the country's drive towards digitalization. 

Through enabling efficient leasing and usage, the Act overcomes issues in asset management and utilisation, defines the definition and registration procedure for federal real estate assets, and establishes measures for "optimising government asset returns". In order to ensure consistency with the tasks and responsibilities of federal agencies, it also offers flexibility to fulfil their individual demands.

This Decree-law lists federal government assets, which include mobile assets that support federal real estate utilised for public services like roads, railroads, and bridges, together referred to as "real estate by allocation." It also covers other federal non-real estate properties as well as federation-owned personal property, both moveable and immovable, that is not for public use. The legislation also specifies rights with regard to any federal property and defines intangible assets as properties that are acknowledged as belonging to the federation.

The Decree-law also lays down guidelines for the purchase, use, and disposal of non-real estate assets and private federal properties that are not allocated to public use.

In order to facilitate asset recovery or transfer to local governments, it creates a registry for federal real estate properties and works with pertinent municipal authorities.  The legislation specifies regulations for utilising and profiting from federal assets, as well as how federal properties inside and outside of states are managed. It also establishes leasing guidelines for private buildings. 

In order to guarantee the best possible use of these assets, the legislation also underlines the necessity of adhering to municipal construction and urban planning codes. When this Decree-law takes effect on March 28, 2024, it will supersede the federal Decree-law No. 16 of 2018 pertaining to federal government real estate properties. The UAE Legislation platform has the aforementioned decree law.